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Abstract

We consider a general model of pure exchange economies with consumption externalities. Households may have different consumption sets and each consumption set is described by a function called possibility function. Utility and possibility functions depend on the consumptions of all households. Our goal is to give sufficient conditions for the regularity of such economies. We prove that, generically, economies are regular in the space of endowments and possibility functions.

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Bibliographic Info

Paper provided by Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy in its series CSEF Working Papers with number 195.

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Date of creation: 11 Feb 2008
Date of revision: 01 Dec 2009
Handle: RePEc:sef:csefwp:195

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Postal: I-80126 Napoli
Phone: +39 081 - 675372
Fax: +39 081 - 675372
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Web page: http://www.csef.it/
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Related research

Keywords: Externalities; consumption constraints; competitive equilibrium; regular economies;

Other versions of this item:

Find related papers by JEL classification:

• C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
• D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
• D62 - Microeconomics - - Welfare Economics - - - Externalities

This paper has been announced in the following NEP Reports:

• NEP-ALL-2008-02-23 (All new papers)
• NEP-UPT-2008-02-23 (Utility Models & Prospect Theory)

References

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